Epic Games is buying the maker of ‘Fall Guys,’ fueling its metaverse ambitions
Epic Games, the Cary-based maker of the “Fortnite” video game, is adding another hugely successful video game to its roster.
Epic said Tuesday it is buying Tonic Games Group, the studio behind the popular “Fall Guys” game, for an undisclosed amount of money.
It’s another sign that Epic, which has raised billions of dollars from investors, is being more aggressive in acquiring other competitors and companies.
Epic already has bought the companies behind the video game “Rocket League” and the maker of the Houseparty social media app.
In a release, Epic Games CEO Tim Sweeney said buying Tonic Games Group would aid his company’s quest to build a metaverse, a virtual ecosystem where people can gather in real time for shared experiences.
Already, people use “Fortnite” for interactions beyond video games, like gathering for virtual concerts and movie showings. The purchase of the Houseparty app was pitched as a way to make “Fortnite” even more social than it already is.
“It’s no secret that Epic is invested in building the metaverse and Tonic Games shares this goal,” Sweeney said in a statement. “As Epic works to build this virtual future, we need great creative talent who know how to build powerful games, content and experiences.”
“Fall Guys” was one of the most popular video games in 2020, and like “Fortnite,” it features cartoonish animation. The game is known for its jelly-bean-like characters that compete against one another in competitions like obstacle courses, races and tag.
Similar to “Fortnite,” it allows for large numbers of people to play against each other. Up to 60 people can join in a typical “Fall Guys” game.
Michael Pachter, an analyst at Wedbush Securities, said Epic’s decision to buy successful game developers is a “smart strategy,” as it grows the amount of people interacting with the company.
But it shouldn’t have too great of an impact on the overall video game landscape “other than to put resources behind popular franchises and to invest in the teams who built those franchises,” he said in an email. “The consumer wins if good brands receive financial support.”
Epic said it won’t change any of the gameplay of “Fall Guys,” and promised to continue investing in the game.
“Beyond the shared vision among our teams, we see tremendous potential in combining forces with Epic,” Paul Croft, the co-founder of Tonic Games, said in a statement. “Whether it’s about making our own games the best they can be or empowering other game developers to take their content from a kernel of an idea to commercial success, we know that together we will be able to reach greater heights.”
This story was produced with financial support from a coalition of partners led by Innovate Raleigh as part of an independent journalism fellowship program. The N&O maintains full editorial control of the work. Learn more; go to bit.ly/newsinnovate
This story was originally published March 2, 2021 at 2:00 PM with the headline "Epic Games is buying the maker of ‘Fall Guys,’ fueling its metaverse ambitions."